CALGARY,
Dec. 10, 2013 /CNW/ - First Mountain
Exploration Ltd. ("First Mountain" or the "Company") (TSX Venture:
FMX) is pleased to announce it has commenced a horizontal drilling
program in the Atlee Buffalo area of Alberta. On December 9, 2013 the well FMEL 03HZ ATL-BUFF
14-20-21-5W4M (the "well") was spud and it is expected the well
will reach a total depth of approximately 1,765 meters on
December 17, 2013. Once
completed, First Mountain plans to install production facilities
and have the well on production early in January, 2014. First
Mountain has an 85% working interest in the Atlee Buffalo Area.
A Note regarding Forward Looking
Information
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release contains forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. The use of any of the words "will",
"expects", "believe", "plans", "potential" and similar expressions
are intended to identify forward-looking statements or information.
More particularly and without limitation, this press release
contains forward looking statements and information concerning the
timing of the drilling of the well, the timing of the well being on
production and the success of the well.
Although First Mountain believes that the
expectations and assumptions on which such forward looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward-looking statements and
information because First Mountain can give no assurance that they
will prove to be correct.
Since forward-looking statements and
information address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, the risks associated with the oil and gas industry in
general such as operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve and resource estimates; the uncertainty of estimates and
projections relating to reserves, resources, production, costs and
expenses; health, safety and environmental risks; commodity price
and exchange rate fluctuations; marketing and transportation; loss
of markets; environmental risks; competition; incorrect assessment
of the value of acquisitions; failure to realize the anticipated
benefits of acquisitions; ability to access sufficient capital from
internal and external sources; changes in legislation, including
but not limited to tax laws, royalties and environmental
regulations, actual production from the acquired assets may be
greater or less than estimates; failure to obtain the necessary
regulatory approval, stock exchange and other regulatory approvals
on the timelines planned. Management has included the above summary
of assumptions and risks related to forward looking information
provided in this press release in order to provide security holders
with a more complete perspective on First Mountain's future
operations and such information may not be appropriate for other
purposes.
The forward-looking statements and
information contained in this press release are made as of the date
hereof and First Mountain undertakes no obligation to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
SOURCE First Mountain Exploration Ltd.